EasyJet leads European equity bounce after raising forecast

viernes 3 de octubre de 2014 03:53 GYT

* FTSEurofirst 300 up 0.5 pct, FTSE 100 up 0.8 pct

* Main indexes bounce from "oversold" territory

* easyJet leads gainers after raising profit forecast

By Francesco Canepa

LONDON, Oct 3 (Reuters) - European equity indexes bounced from "oversold" territory on Friday after their steepest falls in several months, with British low-cost airline easyJet the biggest gainer after raising its profit forecast.

Shares in easyJet rose 5 percent to the top of the pan-European FTSEurofirst 300 index, which was up 0.5 percent at 1,342.23 points at 0735 GMT, rebounding after its steepest one-day drop in 15 months.

European shares had come under pressure on Thursday after the European Central Bank gave fewer details than the market had expected about its plan to buy secured debt, which is aimed at shoring up inflation and economic growth in the sluggish euro zone economy.

Britain's FTSE and France's CAC rose 0.8 percent, although both indexes were still on track to post losses of more than two percent for the week. The German stock market was shut due to a national holiday.

The FTSE and the CAC closed in "oversold" territory on Thursday based on their 7-day Relative Strength Index, a momentum indicator which compares the magnitude of recent gains to recent losses.   Continuación...